Velocity Investments, Inc.
Velocity Investments, Inc. is a gasoline station and convenience store business located in Newcastle, WA, in the gasoline stations with convenience stores industry (NAICS 457110).
SBA 504 loan, approved Sep 22, 2025
$2,021,000 SBA portionCDC: Ameritrust CDC25 years termApproved, not yet fundedLoan details
- SBA (CDC) portion
- $2,021,000
- Bank portion
- $2,218,500
- Estimated project size
- $4,710,556 (estimated)
- Estimated owner equity
- $471,056 (estimated, about 10% of the project)
- Bank lender
- Enterprise Bank & Trust, Clayton, MO
- Processing method
- 504 Refinancing: refinances existing business debt
- Term
- 25 years (300 months)
- Estimated maturity
- September 22, 2050 (estimated, approval date plus term)
- Loan status
- Approved, not yet funded
- Jobs supported
- 8
- Business type
- Corporation
- NAICS
- 457110, Gasoline Stations with Convenience Stores
- Franchise
- AM/PM Mini-Mart Agreement - ARCO Fuel - Contract Dealer Gasoline Agreement (BP West Coast Products)
- Project location
- King County, WA
- SBA district office
- Seattle District Office
- Congressional district
- WA-8
- Collateral
- Yes
Estimated share of project by source
Bank 47% SBA (CDC) 43% Owner 10%
- Larger than 60% of expansion loans in Gasoline Stations with Convenience Stores on this site.
- Average expansion loan in Gasoline Stations with Convenience Stores: $2,019,559.
- Average expansion loan in Washington: $2,234,716.
Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.
SBA 7(a) loan, change of ownership, approved May 11, 2024
$5,000,000 approvedLender: Commonwealth Business Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $5,000,000
- SBA-guaranteed amount
- $3,750,000 (75% of the approval)
- Lender
- Commonwealth Business Bank, Los Angeles, CA
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.25%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- May 11, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $66,770 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jun 25, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 7
- Business type
- Corporation
- NAICS
- 457110, Gasoline Stations with Convenience Stores
- Franchise
- Wallace Oil Company. Inc (Multi-Brands) Fuel Supply Agreement
- Project location
- King County, WA
- SBA district office
- Seattle District Office
- Congressional district
- WA-08
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 94% of acquisition loans in Gasoline Stations with Convenience Stores on this site.
- Average acquisition loan in Gasoline Stations with Convenience Stores: $2,177,273.
- Average acquisition loan in Washington: $1,784,595.
Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.
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